The amount of damage to the world economy as a result of hacker attacks has been named

The amount of damage to the world economy as a result of hacker attacks has been named

Preliminary calculations showed just an astronomical amount, while in 2018 the losses were almost half as low.

State sector and business have large losses at the hands of network fraudsters. Attacks are not only the departmental web portals, but also small sites of small businesses. The total damage to the world economy as a result of hacker attacks is estimated at $1 trillion, while two years ago this amount was about $600 billion.

According to calculations of the company producing antivirus software under the brand McAfee and the Center for Strategic and International Studies (CSIS) direct damage has already reached an impressive amount of $ 945 billion, not including another $ 145 billion of associated costs to strengthen cybersecurity.

The researchers conducted a survey of 1,500 cross-sector representatives of IT and policy makers of companies, conducted interviews with officials, and used open data from government agencies and the IMF. In addition to monetary losses, 92% of respondents said they suffered from productivity and time costs.

The longest average work stoppage due to cyberattack was 18 hours, which caused losses of half a million dollars. The report points out several major factors in the increased frequency of cyberattacks: warning systems and response measures have become more effective, but at the same time, the “skill” of the scammers themselves is also improving.

It also notes that the mass transfer of services to the Internet, due to quarantine, expands the field of activity for hackers.